Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $241.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target lifted by Citigroup from $201.00 to $241.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

ODFL has been the subject of a number of other reports. Stephens reaffirmed an “overweight” rating and set a $214.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Bank of America decreased their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Raymond James boosted their target price on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. TD Cowen dropped their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Finally, Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $200.00.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL traded down $6.18 during midday trading on Tuesday, hitting $217.25. The company’s stock had a trading volume of 407,479 shares, compared to its average volume of 1,544,713. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $46.38 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 6.36 and a beta of 0.99. The stock’s 50 day simple moving average is $200.71 and its 200 day simple moving average is $191.02.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 EPS. As a group, research analysts anticipate that Old Dominion Freight Line will post 5.46 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.48%. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,975 shares of company stock worth $10,062,478 in the last three months. Insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ODFL. Benjamin Edwards Inc. acquired a new stake in Old Dominion Freight Line during the second quarter worth approximately $25,000. Atwood & Palmer Inc. increased its stake in shares of Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after purchasing an additional 148 shares during the period. Crewe Advisors LLC acquired a new stake in Old Dominion Freight Line during the 1st quarter worth approximately $38,000. Versant Capital Management Inc boosted its stake in Old Dominion Freight Line by 1,630.0% in the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 163 shares during the period. Finally, LRI Investments LLC boosted its stake in Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.